Reduction of computational resources of an electronic trading system required for management of electronic tradeable instruments implemented as instantiated data objects

Abstract

The disclosed embodiments relate to reduction of computational resources of an electronic trading system required for management of electronic tradeable instruments via instantiation of data objects in a memory including both data inherited from and data linked to a master data object stored in an external data structure or database. The combination of both inherited and referenced attributes may uniquely define each instance to enable the electronic trading system to manage and process transactions for a large number of tradeable instrument variations with minimal computational resources. Thereby, the disclosed embodiments enable the listing en mass and scheduling of a large number of financial instruments for trading to cover, for example, various currency patterns, pricing sources and fixing times.

What is claimed is: 
     
       1. A computer implemented method for managing computational resources of an electronic trading system, the method comprising:
 storing, by a processor in a database coupled therewith and external to a matching engine, a plurality of master data objects, each including first data indicative of values of a first plurality of parameters which uniquely characterize the master data object among the plurality of master data objects; 
 instantiating, by the processor within a memory of the matching engine, based on each of the plurality of master data objects, at least one instance of the master data object, each comprising a data size that is less than a data size of the master data object from which it was instantiated and enabling the matching engine to process received transactions related to the master data object without having the master data object stored in the memory of matching engine, wherein each of the at least one instance of each master data object includes:
 an electronic link to the first data of the master data object, from which the instance was instantiated, indicative of the values of the first plurality of parameters; and 
 second data indicative of values of a second plurality of parameters which, together with the values of the first plurality of parameters of the master data object from which the instance was instantiated, uniquely characterize the instance among the instantiated instances; and 
 
 wherein a modification of the data of any of any of the first plurality of parameters of a particular master data object is automatically propagated via the electronic link to each instance thereof to cause the characterization of all instances of that master data object to be modified in accordance therewith. 
 
     
     
       2. The computer implemented method of  claim 1 , wherein the received transactions are received from any of a plurality of market participants, the first plurality of parameters of each master data object comprising permissions defining subsets of the plurality of market participants who are permitted to submit a transaction related to that master data object, the matching engine, upon receipt of a transaction from a market participant, accessing the first plurality of parameters of the master object related thereto via the electronic link of the instance thereof stored in the memory of the matching engine to determine if the market participant from which the transaction was received is permitted to submit a transaction related to the master data object, the matching engine rejecting the transaction if the market participant from which it was received is determined to not be permitted to submit transactions related to the master data object. 
     
     
       3. The computer implemented method of  claim 1 , wherein each instance is associated with an order book data structure configured to store data indicative of received but not satisfied transactions related to the master data object from which the instance was instantiated. 
     
     
       4. The computer implemented method of  claim 1 , wherein each instance defines a financial instrument for which transactions may be received by the electronic trading system and processed by the matching engine, and wherein the second plurality of parameters defines a recurring time schedule of when the financial instrument may be transacted. 
     
     
       5. The computer implemented method of  claim 1 , wherein the electronic link comprises a memory address pointer. 
     
     
       6. The computer implemented method of  claim 1 , wherein the electronic link of an instance comprises a data size less than a data size of the first data indicative of the first plurality of parameters of the master data object from which the instance is instantiated. 
     
     
       7. The computer implemented method of  claim 1 , wherein the plurality of master data objects are stored in the database in a first arrangement in accordance with one or more of the first plurality of parameters and further wherein the instances are stored in the memory of the match engine in a second arrangement, different from the first arrangement, in accordance with one or more of the second plurality of parameters. 
     
     
       8. A system for managing computational resources of an electronic trading system, the system comprising:
 first logic stored in a memory and executable by a processor to cause the processor to store, in a database coupled therewith and external to a matching engine, a plurality of master data objects, each including first data indicative of values of a first plurality of parameters which uniquely characterize the master data object among the plurality of master data objects; 
 second logic stored in the memory and coupled with the first logic and executable by the processor to cause the processor to instantiate, within a memory of the matching engine, based on each of the plurality of master data objects, at least one instance of the master data object, each comprising a data size that is less than a data size of the master data object from which it was instantiated and enabling the matching engine to process received transactions related to the master data object without having the master data object stored in the memory of matching engine, wherein each of the at least one instance of each master data object includes:
 an electronic link to the first data of the master data object, from which the instance was instantiated, indicative of the values of the first plurality of parameters; and 
 second data indicative of values of a second plurality of parameters which, together with the values of the first plurality of parameters of the master data object from which the instance was instantiated, uniquely characterize the instance among the instantiated instances; and 
 
 wherein a modification of the data of any of any of the first plurality of parameters of a particular master data object is automatically propagated via the electronic link to each instance thereof to cause the characterization of all instances of that master data object to be modified in accordance therewith. 
 
     
     
       9. The system of  claim 8 , wherein the received transactions are received from any of a plurality of market participants, the first plurality of parameters of each master data object comprising permissions defining subsets of the plurality of market participants who are permitted to submit a transaction related to that master data object, the matching engine, upon receipt of a transaction from a market participant, configured to access the first plurality of parameters of the master object related thereto via the electronic link of the instance thereof stored in the memory of the matching engine to determine if the market participant from which the transaction was received is permitted to submit a transaction related to the master data object, the matching engine configured to reject the transaction if the market participant from which it was received is determined to not be permitted to submit transactions related to the master data object. 
     
     
       10. The system of  claim 8 , wherein each instance is associated with an order book data structure configured to store data indicative of received but not satisfied transactions related to the master data object from which the instance was instantiated. 
     
     
       11. The system of  claim 8 , wherein each instance defines a financial instrument for which transactions may be received by the electronic trading system and processed by the matching engine, and wherein the second plurality of parameters defines a recurring time schedule of when the financial instrument may be transacted. 
     
     
       12. The system of  claim 8 , wherein the electronic link comprises a memory address pointer. 
     
     
       13. The system of  claim 8 , wherein the electronic link of an instance comprises a data size less than a data size of the first data indicative of the first plurality of parameters of the master data object from which the instance is instantiated. 
     
     
       14. The system of  claim 8 , wherein the plurality of master data objects are stored in the database in a first arrangement in accordance with one or more of the first plurality of parameters and further wherein the instances are stored in the memory of the match engine in a second arrangement, different from the first arrangement, in accordance with one or more of the second plurality of parameters. 
     
     
       15. A system for managing computational resources of an electronic trading system, the system comprising:
 a processor and a memory coupled therewith which stores computer executable instructions that, when executed by the processor, cause the processor to:
 store, in a database coupled with the processor and external to a matching engine, a plurality of master data objects, each including first data indicative of values of a first plurality of parameters which uniquely characterize the master data object among the plurality of master data objects; 
 instantiate, within a memory of the matching engine, based on each of the plurality of master data objects, at least one instance of the master data object, each comprising a data size that is less than a data size of the master data object from which it was instantiated and enabling the matching engine to process received transactions related to the master data object without having the master data object stored in the memory of matching engine, wherein each of the at least one instance of each master data object includes: 
 an electronic link to the first data of the master data object, from which the instance was instantiated, indicative of the values of the first plurality of parameters; and 
 second data indicative of values of a second plurality of parameters which, together with the values of the first plurality of parameters of the master data object from which the instance was instantiated, uniquely characterize the instance among the instantiated instances; and 
 
 wherein a modification of the data of any of any of the first plurality of parameters of a particular master data object is automatically propagated via the electronic link to each instance thereof to cause the characterization of all instances of that master data object to be modified in accordance therewith. 
 
     
     
       16. The system of  claim 15 , wherein the received transactions are received from any of a plurality of market participants, the first plurality of parameters of each master data object comprising permissions defining subsets of the plurality of market participants who are permitted to submit a transaction related to that master data object, the matching engine, upon receipt of a transaction from a market participant, configured to access the first plurality of parameters of the master object related thereto via the electronic link of the instance thereof stored in the memory of the matching engine to determine if the market participant from which the transaction was received is permitted to submit a transaction related to the master data object, the matching engine configured to reject the transaction if the market participant from which it was received is determined to not be permitted to submit transactions related to the master data object. 
     
     
       17. The system of  claim 15 , wherein each instance is associated with an order book data structure configured to store data indicative of received but not satisfied transactions related to the master data object from which the instance was instantiated. 
     
     
       18. The system of  claim 15 , wherein each instance defines a financial instrument for which transactions may be received by the electronic trading system and processed by the matching engine, and wherein the second plurality of parameters defines a recurring time schedule of when the financial instrument may be transacted. 
     
     
       19. The system of  claim 15 , wherein the electronic link comprises a memory address pointer. 
     
     
       20. The system of  claim 15 , wherein the electronic link of an instance comprises a data size less than a data size of the first data indicative of the first plurality of parameters of the master data object from which the instance is instantiated. 
     
     
       21. The system of  claim 15 , wherein the plurality of master data objects are stored in the database in a first arrangement in accordance with one or more of the first plurality of parameters and further wherein the instances are stored in the memory of the match engine in a second arrangement, different from the first arrangement, in accordance with one or more of the second plurality of parameters.